Framing and experimentation in economic policy: the case of the new deal agricultural regulation

Ivan D. Trofimov

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Abstract

The problems of sub-optimality and instability of the policy regime (agricultural policy regime in the USA in the 1920-1940s as a specific case) as well as the uneasy relationship between practical policy making and economic theory are examined from framing and experimentation perspectives. It is shown that policy formulation is an open-ended process (that eventuates in a unique configuration of mechanisms and underlying institutions), guided by political acceptability and social appropriateness logics, with stable policy outcomes critically dependent on the presence of the consensually held policy frames. Regarding optimality problem, a less restrictive procedural criterion to evaluate policies is advanced.
Original languageEnglish
Pages (from-to)14-24
Number of pages11
JournalAsian Social Science
Volume8
Issue number3
DOIs
Publication statusPublished - 2012

Bibliographical note

Copyright the Author(s). Version archived for private and non-commercial use with the permission of the author/s and according to publisher conditions. For further rights please contact the author/s.

Keywords

  • Agricultural policy
  • Experimentation
  • Framing
  • New deal

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